Golf Galaxy

Highlights:

• Brand-new 5-year lease extension with an above-market 15% rental increase scheduled for the first option period and 5% rental increases for the second and third options
• Tenant paying $12.25/SF – other tenants recently executed leases at $17.50-24.50/SF in same center
• Lease is guaranteed by tenant’s parent company – Dick’s Sporting Goods, Inc. (see below)
• One of the largest specialty sports equipment retailers in the U.S. with 850+ Dick’s locations and another 100+ Golf Galaxy locations nationwide
• Dick’s 2024 revenue totaled $13.44B – a 3.5% increase over the previous year
• The adjacent Whole Foods ranks in the top 10% of grocery stores in Kansas in terms of annual visits per Placer.ai
• Golf /sporting goods have continued annual growth spend
• Extremely affluent residential demographics – $151,000 average household incomes within a 3-mile radius of the subject property
• Prominent & proximal tenants driving traffic to the direct trade area include Target, Costco, Walmart, Best Buy, and Whole Foods

Description:

Golf Galaxy recently signed a 5-year lease extension with three additional 5-year extension options featuring a 15% rental increase in the first option and a 5% increase in the second and third options. The subject property is located in Kansas City’s top intersection – anchored by Whole Foods, which ranks in the top 10% of grocery stores in Kansas in terms of annual visits per Placer.ai.

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